Effects Of Depression On Individual Groups Flashcards Preview

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Flashcards in Effects Of Depression On Individual Groups Deck (5):
1

Give three effects the depression had on farmers?

In 1933 income dropped 60%

Goods that farmers bought had only dropped 15% in price so couldn't afford what they needed

Many had to sell up

1933, 1 millions traveling to look for work

2

Give three effects of the depression on bankers?

Many lost jobs as banks went bankrupt

Banks tried to recover loans from companies which lead to higher unemployment

Many banks closed so little opportunity for other jobs

3

Give three effects of the depression on urban workers?

25% of the workforce was unemployed

In 1933 production was 1/5 of what it had been before the crash

Unemployment in cities was high between heavy industrial workers and blacks

4

Give three effects of the depression on businesses?

Between 1929 and 1933 100,000 businesses closed

Over three years wages dropped from 28 to 22 dollars

Many had to payback loans = bankrupt

5

Give three effects of the depression on homelessness?

Many couldn't afford to keep home

Homes were repossessed by banks

Shanty towns were built on the edge of towns known as Hoovervilles